March 11, 2005

MARKING ORDERS ORIGINATING FROM OTHER DEALERS

Pursuant to the Universal Market Integrity Rules, CNQ Dealers (including market makers) who enter an order originating from another dealer that is a participant (as defined in UMIR) must enter that dealer�s trading number in the �jitney� field. This must be entered even if the originating dealer is not a CNQ Dealer. Please see Market Integrity Notice 2005-003 dated March 4, 2005, available at www.rs.ca, for further details.

The CNQ trading system will accept orders with a non-CNQ dealer�s number in the jitney field. The originating dealer�s number will not appear in public market data displays but will be visible only to staff of CNQ and of Market Regulation Services Inc.

If the originating dealer is a CNQ Dealer, reports of any trade(s) involving that order will be sent to CDS under the originating dealer�s number. The originating dealer will be responsible for clearing and settlement. If the originating dealer is not a CNQ Dealer, the trade will be reported under the number of the dealer entering the order, which will be responsible for clearing and settlement.

Please direct any questions to Mark Faulkner, Director, Listings & Regulation at 416.572.2000 x2305 :Mark.Faulkner@cnq.ca or David Timpany, Manager, Trading System at 416.572.2000 x2290 :David.Timpany@cnq.ca